Allspring Global Investments Holdings LLC Sells 58,585 Shares of Voya Financial, Inc. $VOYA

Allspring Global Investments Holdings LLC cut its stake in shares of Voya Financial, Inc. (NYSE:VOYA) by 34.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 113,134 shares of the asset manager’s stock after selling 58,585 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Voya Financial were worth $8,399,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of VOYA. Merit Financial Group LLC bought a new position in Voya Financial in the 3rd quarter worth about $226,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Voya Financial by 1.7% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 492,400 shares of the asset manager’s stock worth $36,832,000 after buying an additional 8,200 shares in the last quarter. Diversified Trust Co bought a new position in shares of Voya Financial in the third quarter worth approximately $539,000. CWM LLC grew its holdings in shares of Voya Financial by 84.4% during the third quarter. CWM LLC now owns 4,824 shares of the asset manager’s stock valued at $361,000 after buying an additional 2,208 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of Voya Financial during the third quarter valued at approximately $1,310,000. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VOYA shares. Royal Bank Of Canada decreased their price target on Voya Financial from $87.00 to $85.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Voya Financial in a report on Monday, December 29th. Barclays boosted their target price on Voya Financial from $81.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods dropped their price target on shares of Voya Financial from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Finally, Wells Fargo & Company reduced their price target on shares of Voya Financial from $83.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.56.

Voya Financial Stock Performance

Shares of NYSE VOYA opened at $77.85 on Wednesday. The stock has a market cap of $7.41 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.50 and a beta of 0.90. Voya Financial, Inc. has a 1 year low of $52.43 and a 1 year high of $78.35. The firm has a fifty day moving average price of $72.66 and a 200-day moving average price of $73.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.27 and a quick ratio of 0.27.

Voya Financial (NYSE:VOYA) last issued its earnings results on Tuesday, November 4th. The asset manager reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.23. Voya Financial had a net margin of 7.55% and a return on equity of 13.89%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm posted $2.12 EPS. Voya Financial’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts anticipate that Voya Financial, Inc. will post 8.39 earnings per share for the current fiscal year.

Voya Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Wednesday, November 26th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from Voya Financial’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, November 26th. Voya Financial’s dividend payout ratio is currently 32.30%.

Voya Financial Company Profile

Voya Financial, Inc (NYSE: VOYA) is a financial services company headquartered in New York City, focused on helping Americans plan, invest and protect their savings. The company traces its roots to the U.S. operations of ING Group, which were spun off in 2013 and rebranded as Voya Financial in 2014. Voya’s operations are built around a customer-centric approach, drawing on decades of experience in retirement planning and risk management to serve both individual and institutional clients.

Voya’s core business activities span three key segments: Retirement, Investment Management and Employee Benefits.